The Balance Sheet of a company shows an opening balance of ₹1,80,000 and ₹60,000 respectively in Plant A/c and Provision for Depreciation on Plant A/c. The closing balances of these accounts are ₹2,88,000 and ₹66,000 res
CS Executive · Cost and Management Accounting · PYQS · December 2020
The Balance Sheet of a company shows an opening balance of ₹1,80,000 and ₹60,000 respectively in Plant A/c and Provision for Depreciation on Plant A/c. The closing balances of these accounts are ₹2,88,000 and ₹66,000 respectively. An old plant costing ₹36,000 with an accumulated depreciation of ₹24,000 was sold at a profit of ₹600. The amount of cash outflow from plant was:
Answer & Explanation:
Correct Answer: Option (A)
Official answer key: (A).
Topics: Cash Flow Statement
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